Accounting Equation Problem 9

Following transactions are given.

1. Stated business with Rs. 1,00,000.
2. Goods purchased Rs. 60,000.
3. Salary paid Rs. 10,000.
4. Paid rent Rs. 3,000 including advance of Rs. 1,000.

Required: Accounting Equation.

S.No.	Transactions	Assets	=	Capital	+	Liabilities
1	Business started	+1,00,000		+1,00,000		0
	Beginning Equation	1,00,000	=	1,00,000	+	0
2	Purchased goods	+60,000 -60,000		0		0
	New Equation	1,00,000	=	1,00,000	+	0
3	Salaries paid	-10,000		-10,000		0
	New Equation	90,000	=	90,000	+	0
4	Paid rent including advance	-3,000 +1,000		-2,000		0
	Final Equation	88,000	=	88,000	+	0

Note: If anybody have confusion in above given solution then comment me below.